GSN Corporations Limited
Sanctions against Ms Li Nian, ex-ED of GSN (ex-8242)
SEHK, 1-Aug-2024
For failing to co-operate with an investigation.
SEHK, 1-Aug-2024
For failing to co-operate with an investigation.
Sanctions against Mr Gan Lin, ex-ED of Times Universal (2310) and of GSN (ex-8242)
SEHK, 1-Aug-2024
For failing to co-operate with an investigation.
SEHK, 1-Aug-2024
For failing to co-operate with an investigation.
HKICPA fines Dickson Chan Chi Kwong and Sam Sum Chun Ho of JH CPA Alliance Ltd HK$75k and HK$60k respectively
| Megalogic 2016 annual report
HKICPA, 3-Nov-2021
For bad audit work on the 2016 annual report of an unnamed listed company. From the Webb-site Who's Who database of clients and year-ends, this can only be GSN Corporations Ltd (8242), then known as Megalogic Technology Holdings Ltd. We note that Mr Chan is an INED of eBroker (8039) and Sanbase (8501). This is his second fine by HKICPA in 5 months. Mr Sum is an INED and Audit Committee Chairman of Future Data (8229).
HKICPA, 3-Nov-2021
For bad audit work on the 2016 annual report of an unnamed listed company. From the Webb-site Who's Who database of clients and year-ends, this can only be GSN Corporations Ltd (8242), then known as Megalogic Technology Holdings Ltd. We note that Mr Chan is an INED of eBroker (8039) and Sanbase (8501). This is his second fine by HKICPA in 5 months. Mr Sum is an INED and Audit Committee Chairman of Future Data (8229).
New Western (8242) buys 45% of property vehicle from Alfonso Chu Hin Ming for HK$13.5m in new shares
| Completion
Company announcement, 25-Mar-2020
The new shares represent 20% of existing shares so this completely exhausts the general issue mandate. The deal comes 12 days after New Western loaned Mr Chu HK$25m and 9 days after a $22m loan to Mr Chu's business partner Perway Yu Kin Wai, who provided the same underlying security.
Company announcement, 25-Mar-2020
The new shares represent 20% of existing shares so this completely exhausts the general issue mandate. The deal comes 12 days after New Western loaned Mr Chu HK$25m and 9 days after a $22m loan to Mr Chu's business partner Perway Yu Kin Wai, who provided the same underlying security.
New Western (8242) lends HK$22m to BVI company guaranteed by Perway Yu Kin Wai
Company announcement, 17-Mar-2020
This comes 3 days after a $25m loan to a BVI company owned by Alfonso Chu Hin Ming. The two loans involve the same security, and in our view should have been aggregated under the Listing Rules. Mr Gan Lin became CEO of New Western on 22-Jan-2020. Until 11-Jun-2019 he was CEO of Forebase (2310). On 10-Apr-2019, Forebase bought a 49% interest in a Malaysian property company from the same 2 people.
Company announcement, 17-Mar-2020
This comes 3 days after a $25m loan to a BVI company owned by Alfonso Chu Hin Ming. The two loans involve the same security, and in our view should have been aggregated under the Listing Rules. Mr Gan Lin became CEO of New Western on 22-Jan-2020. Until 11-Jun-2019 he was CEO of Forebase (2310). On 10-Apr-2019, Forebase bought a 49% interest in a Malaysian property company from the same 2 people.
New Western (8242) lends HK$25m to BVI company guaranteed by Alfonso Chu Hin Ming
Company announcement, 13-Mar-2020
Company announcement, 13-Mar-2020
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